BUZZ-U.S. STOCKS ON THE MOVE-Comcast, Time Warner Cable, Stemcells

Reuters Staff

10 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks were set to open higher on Friday as strong results from tech behemoths Google, Amazon and Microsoft set the Nasdaq Composite on track to extend its run after surpassing on Thursday a 15-year-old record. Dow Jones industrial average futures were up 0.13 percent at 18,004, S&P 500 futures were up 0.23 percent at 2,111.75 and Nasdaq 100 futures were up 0.76 percent at 4,515.75.

** COMCAST CORP, Thursday close $59.23, +1.27 pct premarket

** TIME WARNER CABLE INC, Thursday close $148.76, +0.83 pct premarket

The companies said they abandoned their proposed $45 billion merger. Media company executives and diverse consumer and industry groups had worried the deal would create a monolith with too much control over what Americans do online and watch on TV.

** 3D SYSTEMS CORP, Thursday close $30.15, -11.18 pct premarket

The 3D printer maker estimated first-quarter revenue and profit well below the average analyst estimate, saying a weaker euro and yen and the aftershock of lower oil prices had forced its aerospace, automotive and healthcare clients to curb orders.

** MATTEL INC, Thursday close $28.92, +3.63 pct premarket

Goldman Sachs upgraded the toymaker’s stock to “buy” and raised its price target to $37 from $26. “We believe new management is making the right strategic changes by reprioritizing an innovative culture and emphasizing the need for partnerships with Hollywood and Silicon Valley,” Goldman Sachs analysts said.

** EHEALTH INC, Thursday close $11.44, +26.22 pct premarket

The private health insurance exchange reported an adjusted profit of 26 cents per share for the first quarter, above the average analyst estimate of loss of 17 cents per share.

** APPLE INC, Thursday close $129.67, +0.68 pct premarket

The iPhone maker aimed to ship at least 20 million Apple Watches this year, well above many analysts’ forecasts, according to supply chain sources. Shipment estimates vary widely as it’s a relatively new type of consumer product and the market was largely untapped.

The company said on Thursday it would lay off about 700 workers at a Detroit-area plant making compact and compact hybrid cars, responding to a dip in demand for such vehicles amid lower gasoline prices.

The world’s largest passenger carrier on Friday reported a first-quarter profit above the average analyst expectation and declared a 10 cent dividend as cheap fuel continued to help its bottom line.

** SCHOLASTIC CORP, Thursday close $42.35

The book publisher said it would sell its educational technology and services business to publisher Houghton Mifflin Harcourt Co for $575 million in cash to focus on its core children’s book publishing business.

** STEMCELLS INC, Thursday close $0.82, -20.73 pct premarket

The drug developer announces stock offering on Friday but did not disclose its price. The company planned to use its proceeds from offering for research, development and working capital expenditures.

** INTERPUBLIC GROUP OF COMPANIES, Thursday close $21.16

The company’s quarterly revenue inched up 2.4 percent, helped by higher ad spending by U.S. businesses. The company whose agencies include Lowe and Partners, McCann and FCB, said first-quarter revenue rose to $1.68 billion from $1.64 billion, a year earlier.

** MICROSOFT CORP, Thursday close $43.34, +5.21 pct premarket

The company on Thursday reported revenue and profit above Wall Street expectations, as sales of its hardware and cloud-computing services helped to offset a decline in the company’s core Windows business.

** AMAZON.COM INC, Thursday close $389.99, +12.59 pct premarket

The company surprised investors on Thursday by disclosing for the first time that it makes a profit from its fast-growing cloud-computing business. The E-Commerce company’s first-quarter revenue grew more than expected.

** CENOVUS ENERGY INC, Thursday close $19.27,

Canada’s second-largest independent oil producer has hired bankers to explore a sale or initial public offering of its royalty lands in Western Canada, a company spokesman told Reuters.

** APIGEE CORP

The software developer said its initial public offering has been priced at $17 per share, the midpoint of an expected range of $16-$18. The stock is expected to start trading on Friday.

** STARBUCKS CORP, Thursday close $49.43, +4.39 pct premarket

The world’s biggest coffee chain said on Thursday sales at its coffee shops in the Americas region grew more than expected, boosted by sales of breakfast sandwiches, lunch and new drinks, such as Flat White.

** NEWMONT MINING CORP, Thursday close $23.45, +3.75 pct premarket

The world’s No. 2 gold miner, reported an adjusted quarterly profit that was double the analysts’ average estimate, helped by lower costs.

** HERSHEY CO INC, Thursday close $94.93, +0.39 pct premarket

Sales of the maker of The Great American Chocolate Bar nearly halved in the world’s most populous country in the first quarter of the year compared with the same period of 2014.

** PANDORA MEDIA INC, Thursday close $17.71, -3.73 pct premarket

The number of listeners tuning in to company’s online music streaming service fell short of expectations as the company faced stiff competition from Spotify and Apple Inc’s Beats.

** XEROX CORP, Thursday close $13.14, -6.39 pct premarket

The maker of printers and copiers, reported a 6 percent fall in quarterly revenue, hurt by lower printer sales and a stronger dollar.

The drugmaker has sharpened its focus on cancer drugs with two new deals as it looks beyond a hit to sales and profits from the launch of cheap copies of its popular stomach acid pill Nexium in the vital U.S. market.

** GLAXOSMITHKLINE, Thursday close $46.31, -0.24 pct premarket

The world’s first malaria vaccine, made by the drugmaker, could be approved by international regulators for use in Africa from October after final trial data showed it offered partial protection for up to four years.

The drugmaker lost nearly three-quarters of its value after the company said its lead experimental eye drug failed a late-stage study. The eye drop, Rhopressa, did not lower pressure inside the eye as much as timolol, a commonly prescribed drug, the company said.

The company said on Thursday that Walt Disney Co and Twenty-First Century Fox are not running ads promoting the wireless carrier’s recently launched FiOS Custom TV service on its channels in the New York market.

** NASDAQ OMX GROUP, Thursday close $49.76, -6.69 pct premarket

In a first for a U.S. stock exchange, Nasdaq on Thursday agreed to pay $26.5 million to settle a class-action lawsuit involving its bungling of Facebook Inc’s $16 billion initial public offering, the plaintiffs’ lawyers said.

** CABELA‘S INC, Thursday close $57.32

Hunting, fishing and camping merchandise retailer reported a better-than-expected first-quarter revenue and profit as sales rose in its retail stores.

** SYNTEL INC, Thursday close $48.6

The IT service provider reported q quarterly profit and revenue below analysts’ average estimate.

** UBIQUITI NETWORKS INC, Thursday close $31.43, -14.13 pct premarket

The wireless networking equipment maker said Chief Financial Officer Craig Foster has resigned and named Hartley Nisenbaum, executive vice president of operations and legal affairs, interim CFO. The company also estimated third-quarter revenue and profit at the lower end of its forecast.

** HOMEAWAY INC, Thursday close $32.17, -7.74 pct premarket

The online vacation rental marketplace operator reported lower-than-expected first-quarter revenue and profit, hurt by weakness in Europe business and strong dollar. HomeAway also said its Chief Operating Officer Brent Bellm will resign in June.

** JUNIPER NETWORKS INC, Thursday close $24, +7.04 pct premarket

The network gear maker reported a better-than-expected first-quarter profit, helped by cost cuts. Juniper reduced workforce by 6 percent in 2014 and said it would cut about $100 million in costs.